Pininfarina in deep trouble
March 12, 2008 by Alborz Fallah
Pininfarina, the Italian design company which has designed everything from Ferraris to Mitsubishis, has announced today it will propose to its shareholders a 100 million euro capital increase to combat its ever increasing debts.
As a result the Pininfarina family who currently own 55 per cent are set to lose their majority share in the company.
Last year the company’s debts grew to 185.4 million euros from 129.9 million euros in 2006. 2008 will also be a negative but there are plans for an operative breakeven in 2009.
It’s not all bad new though, the company is already heavily invested in a new electric car being built in a joint venture with French battery specialist Vincent Bollore.
Pininfarina plans to start building its electric car by 2010 with the aim of selling 15,000 units per year. The four-seater will be badged as a Pininfarina in Europe, US and Japan.
If Pininfarina’s car does come to life, all the figures known so far are astounding. Firstly, it is completely electric driven, meaning it has no CO2 emissions, secondly it will go from 0-50km/h in under 5 seconds (with a top speed of 130km/h) and best of all, it can manage 250km per charge.
As for the battery, the Italian company believes it will last for at least 200,000km. Interestingly, a quick five minute charge will reportedly get you 25km!
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dam i always liked this brand
They did a good job on the Focus CC as well…..
Electric means it has no CO2 emissions? Where do you think the electricity comes from?!
A, took the words right off my keyboard. I needn’t say more.
They even designed my old Peugeot 504! And many other Pugs besides that one.
Yes, they’re a great company and I hope they can survive this one.
Some of their designs are modern classics. It would be a shame to see them disappear.
And not all electricity generation is derived from burning fossil fuels. Especially in Europe where there is far more generated by solar, wind and nuclear power. Unlike here.
A, no CO2 emissions means it does not create CO2 emissions per KM as it drives – of course u can argue that the electricity cam come from solar energy etc..
they produced an ugly car aswell, the Colt CC
Not sure whats going on with these Italian design houses, but Bertone is also in bad fiscal shape…
All the best for both of them!
Mail is the_guys_with_funny_shape_eyes are on the buying spree……
Cheers
F-0
Seeing as this is caradvice.COM.AU, I don’t know of any green electricity company is Australia.
Last time I did a search online, the closest I came was a company that uses a combination of Solar, Wind and Coal (I guess when it’s not sunny or windy).
Back on topic… My 405 was Pininfarina designed. Shame to see the company go down like that. But if it did, I’d hope some rich, Russian Entrepreneur fanatic comes along and revives the brand, much like TVR.
green electricity company? they just use coal power and add 10aud to your bill. 10aud times 1million customers is 10million a month. way to go.
the extra money you put in wouldnt translate into 100% reinvested into making wind farms etc. its problably more like 9 dollars in someone’s bank account. 1 dollar for the windfarm piggy bank.
its problably a badly managed company.
i am sick of putting petrol every week ,atleast the electric bill comes every three months
Sounds like u need a Pirus Rocket_v6. Ha Ha Ha
Quick Pirus Brand better copy the Euros again or u’ll be left behind AGAIN!